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P.M Douglas, who is also Minister of Finance, Information, Technology and Sustainable Development, Tourism, Sports and Culture will hand over the Chairmanship of the Authority on Friday morning to St. Lucias Prime Minister |
BASSETERRE, ST. KITTS, JULY 21ST 2005- St. Kitts and Nevis Prime Minister Dr. the Hon. Denzil L. Douglas left here Thursday afternoon for St. Lucia to attend Fridays 53rd Meeting of the Monetary Council of the Eastern Caribbean Central Bank (ECCB).
Prime Minister Douglas, who is also Minister of Finance, Information, Technology and Sustainable Development, Tourism, Sports and Culture will hand over the Chairmanship of the Authority on Friday morning to St. Lucias Prime Minister and Minister of Finance, Economic Affairs, Financial and Information Services, Dr. the Honourable Kenny Anthony.
The handing over takes place during a brief ceremony at the Bay Gardens Hotel in St. Lucia at 8:30 with deliberations starting at 9:00 a.m.
Ministers of Finance from Anguilla, Antigua and Barbuda, Dominica, Grenada, Montserrat, St. Lucia, St. Kitts & Nevis and St. Vincent and the Grenadines will receive the Governor's Report from Sir K. Dwight Venner on prevailing monetary and credit conditions and chart the way forward for the ECCB in light of the current regional and international environment, and the challenges facing the sub-region.
The Monetary Council will also provide the sub-regional financial institution with strategic directives and guidelines with respect to monetary and credit policy.
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| St. Lucia's Prime Minister Dr. the Hon. Kenny Anthony |
The Monetary Council will receive the Governor's report on monetary and credit conditions, and will provide directives and guidelines to the Bank, as mandated by the ECCB Agreement 1983, which governs the operations of the Central Bank.
The Monetary Council, which is the Eastern Caribbean Central Bank's highest decision-making body, meets three times a year. Chairmanship of the Council is rotated among the members annually.
